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Philippine gov't securities resilient amid corruption, says National Treasury
Philippine government securities continue to attract strong investor interest despite concerns over alleged corruption in state infrastructure projects.
National Treasurer Sharon P. Almanza stated that the government securities market is robust and rallying, with tight spreads compared to US Treasuries.
She believes ongoing investigations into corruption allegations will address investor concerns and do not expect a material dampening of sentiment.
The Philippines has raised P2.08 trillion from domestic sources as of November 24, nearing its full-year target.
The Bureau of the Treasury's weekly auctions for Treasury bills and bonds have been consistently oversubscribed, leading to lower yields.
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